NEW YORK, Oct. 26, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Revance Therapeutics, Inc. ("Revance" or the "Company") (NASDAQ: RVNC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Revance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 12, 2021, Revance disclosed that on July 2, 2021, the U.S. Food and Drug Administration ("FDA") had issued a Form 483 notifying Revance of serious issues that the FDA had observed during its inspection of the Company's Northern California manufacturing facility. Among other deficiencies, the FDA observed that "[t]he current manufacturing process is not the process proposed for licensure" and Revance's "Quality Unit lacks the responsibility and authority for control, review, and approval for outsourced activities[.]" Significantly, the Form 483 only came to light as a result of a Freedom of Information Act request directed to the FDA.
On this news, Revance's stock price fell $6.85 per share, or 25%, to close at $20.45 per share on October 12, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.